Wall Street analysts forecast that Apollo Investment Corp. (NASDAQ:AINV) will post $68.37 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Apollo Investment’s earnings. The lowest sales estimate is $67.47 million and the highest is $69.14 million. Apollo Investment posted sales of $66.03 million during the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The company is expected to issue its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Apollo Investment will report full year sales of $275.88 million for the current year, with estimates ranging from $273.00 million to $277.29 million. For the next fiscal year, analysts expect that the business will report sales of $292.23 million, with estimates ranging from $282.10 million to $298.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Apollo Investment.
Apollo Investment (NASDAQ:AINV) last posted its earnings results on Tuesday, August 6th. The asset manager reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. Apollo Investment had a return on equity of 9.88% and a net margin of 31.99%. The firm had revenue of $66.52 million for the quarter, compared to analysts’ expectations of $65.60 million. During the same period last year, the firm earned $0.45 EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its stake in Apollo Investment by 43.7% in the 1st quarter. Whittier Trust Co. now owns 2,192 shares of the asset manager’s stock worth $33,000 after purchasing an additional 667 shares in the last quarter. Wambolt & Associates LLC lifted its stake in Apollo Investment by 1.3% in the 2nd quarter. Wambolt & Associates LLC now owns 55,871 shares of the asset manager’s stock worth $883,000 after purchasing an additional 694 shares in the last quarter. Advisory Services Network LLC lifted its stake in Apollo Investment by 13.5% in the 1st quarter. Advisory Services Network LLC now owns 6,250 shares of the asset manager’s stock worth $95,000 after purchasing an additional 744 shares in the last quarter. Garner Asset Management Corp lifted its stake in Apollo Investment by 1.0% in the 1st quarter. Garner Asset Management Corp now owns 86,288 shares of the asset manager’s stock worth $1,306,000 after purchasing an additional 816 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Apollo Investment by 5.0% in the 2nd quarter. IHT Wealth Management LLC now owns 17,958 shares of the asset manager’s stock worth $284,000 after purchasing an additional 850 shares in the last quarter. 42.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:AINV traded down $0.12 during trading on Friday, reaching $16.19. 281,590 shares of the company’s stock traded hands, compared to its average volume of 371,083. Apollo Investment has a fifty-two week low of $12.05 and a fifty-two week high of $17.19. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.05. The firm has a market cap of $1.11 billion, a PE ratio of 8.94, a P/E/G ratio of 9.06 and a beta of 1.11. The company has a 50-day simple moving average of $16.26 and a 200-day simple moving average of $15.77.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 20th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 11.12%. The ex-dividend date is Thursday, September 19th. Apollo Investment’s payout ratio is 99.45%.
About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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